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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (9486)	7/18/2004 5:10:11 PM
From: glenn_a	Read Replies (1) \| Respond to of 116555

Hi Mike. Yeah, that's a very interesting question IMO - i.e. how long can the U.S. financially and militarily control its empire. It certainly appears to be having some problem on the military front - not, it seems, because it does not still have a significant technological advantage, but rather more because as you say the existence of "multiple poles" of power, and because former effectively US colonies want greater control of their own destinies (again, IMO). But the U.S. financial situation is a BIG problem to my mind. And it's not just the U.S. by any means, because of course the US$ is the global reserve currency. The global financial system to my eyes appears to be levered to the teeth, very poorly capitalized, with loads of derivative bets layered on top. This at a time when the U.S. appears to have a very serious "structural" current account/balance of payments problem (which reflects an overvaluation of the US$, or put another way, the U.S. consumes far more of the world's goods and resources that it can really pay for). We live in interesting times to be sure. I sure as heck hope we all don't kill ourselves trying to work our way out of it! :( Best wishes, Glenn

To: marginmike who wrote (9486)	7/18/2004 10:09:36 PM
From: NOW	Read Replies (1) \| Respond to of 116555

well, within a decade China will be able to take Taiwan without our permission. The number of states with functional nuclear threats will have grown by leaps and bounds. we will wish wew were everyones favourite not most dreaded.....imo